The global market for Glass Packaging is
expected to reach USD 68.4 billion by 2020, according to a new study by
Grand View Research, Inc. Growing beer consumption, especially in parts
of Eastern Europe and Asia Pacific is expected to be a key driver for
the growth of the market over the next five years. In addition, the
increasing preference towards use of glass in packaging of food and
beverage, pharmaceuticals and cosmetics is further expected to boost the
market in the near future.
Alcoholic Beverages were the largest consumers of glass packaging and consumed over 25,000 kilo tons of glass in 2013. Beer is expected to witness fastest growth at an estimated CAGR of 4.2% from 2014 to 2020. Pharmaceuticals along with food and beverage were the other large application segments for glass packaging and are expected to witness substantial growth over the next five years. However, the substitution of glass by plastic as a medium of packaging is expected to be a key restraint for the growth of the market.
Alcoholic Beverages were the largest consumers of glass packaging and consumed over 25,000 kilo tons of glass in 2013. Beer is expected to witness fastest growth at an estimated CAGR of 4.2% from 2014 to 2020. Pharmaceuticals along with food and beverage were the other large application segments for glass packaging and are expected to witness substantial growth over the next five years. However, the substitution of glass by plastic as a medium of packaging is expected to be a key restraint for the growth of the market.
Further Key findings from the study suggest:
• Global glass packaging market volume
was estimated to be 47,000 kilo tons in 2013 and is expected to reach
60,846.5 kilo tons by 2020, growing at a CAGR of 4% from 2014 to 2020.
• Asia Pacific is expected to maintain leadership position in the market, and is estimated to account for close to 38% of the global glass packaging demand by 2020. Europe, which is the second largest market, is expected to play a key role in boosting the demand for glass packaging owing to the increased beer consumption from countries of Eastern Europe.
• Asia Pacific is also expected to be the fastest growing regional market over the next six years, growing at an estimated CAGR of 4.2% in terms of volume from 2014 to 2020.
• The global glass packaging market is highly fragmented, with a couple of companies having significant share of the market, in comparison to numerous companies catering to the local markets. OI or Owens Illinois Inc and Saint Gobain are the key players in the glass packaging market catering to majority of the application segments. Other key companies in the market include Ardagh, Vidrala and Vetropack among.
• Asia Pacific is expected to maintain leadership position in the market, and is estimated to account for close to 38% of the global glass packaging demand by 2020. Europe, which is the second largest market, is expected to play a key role in boosting the demand for glass packaging owing to the increased beer consumption from countries of Eastern Europe.
• Asia Pacific is also expected to be the fastest growing regional market over the next six years, growing at an estimated CAGR of 4.2% in terms of volume from 2014 to 2020.
• The global glass packaging market is highly fragmented, with a couple of companies having significant share of the market, in comparison to numerous companies catering to the local markets. OI or Owens Illinois Inc and Saint Gobain are the key players in the glass packaging market catering to majority of the application segments. Other key companies in the market include Ardagh, Vidrala and Vetropack among.
For the purpose of this study, Grand
View Research has segmented the global Glass Packaging market on the
basis of application and region:
• Glass Packaging Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• Beer
• Food and Beverage
• Pharmaceuticals
• Alcoholic Beverages
• Others
• Glass Packaging Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• Beer
• Food and Beverage
• Pharmaceuticals
• Alcoholic Beverages
• Others
• Glass Packaging Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View Research
Grand View Research, Inc. is a market
research and consulting company that provides off-the-shelf, customized
research reports and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and energy. With a deep-seated
understanding of varied business environments, Grand View Research
provides strategic objective insights. For more information, visit www.grandviewresearch.com.
No comments:
Post a Comment